If you’re a New York contractor, you already know how critical it is to have proper insurance coverage in place. Between job site risks, client demands, and legal requirements, carrying a solid Commercial General Liability (CGL) policy is non-negotiable. Many contractors in New York work with excess and surplus lines (E&S) insurance companies because of the nature of their projects — whether it’s high-risk work, specialized trades, or past claims history that makes standard coverage difficult to secure.
But there’s one thing most contractors struggle with when dealing with these E&S policies: the hefty up-front premiums.
If this sounds like you, we’ve got great news.
There’s now a way for you to finance your Commercial General Liability policy on a pay-as-you-go basis. No more large down payments eating into your cash flow, no more worrying about quarterly installments — you can now pay for your insurance in smaller, manageable amounts as you earn.
And that’s not all — we can also help you with all kinds of construction insurance loans. Whether you need to finance a new policy, cover a renewal premium, or handle a midterm adjustment that comes with an unexpected additional cost, we’ve got the resources to keep your business moving without draining your working capital.
Let’s break down how this works, why it makes sense for your business, and how you can get started.
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The Challenge with E&S General Liability Policies
Excess and Surplus Lines insurance companies fill an essential role in the marketplace, providing coverage when standard carriers won’t. But with that flexibility often comes stricter payment terms.
Most E&S insurers require either the full annual premium up front or, at best, a large down payment (25% to 35%) followed by monthly payments. For a contractor with a $30,000 general liability policy, that could mean shelling out $7,500 to $10,500 up front.
That kind of outlay can disrupt your cash flow, especially during slower seasons or when you’re waiting for invoices to be paid.
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The Solution: Pay-As-You-Go Financing
BGES Group is proud to announce we now work with a finance company that specializes in pay-as-you-go insurance financing. This means you can spread the cost of your policy over the course of the year and align your payments with your cash flow.
Here’s how it works:
• No large down payment required.
• You pay as you go — typically on a monthly basis, based on your actual payroll or a fixed agreed schedule.
• The finance company pays your insurance premium in full to the carrier on your behalf.
• You repay the finance company in easy installments, keeping more cash in your pocket to run your business.
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An Example of How It Would Work
Let’s say you’re a contractor in New York with a $25,000 annual Commercial General Liability policy through an E&S carrier.
Without financing:
• 25% down payment: $6,250 due immediately
• 9 monthly payments of $2,083.33
With pay-as-you-go financing:
• $0 down or a minimal processing fee
• Monthly payments spread out over 12 months: $2,083.33 or less depending on structure
• Align payments with your payroll cycles or agreed fixed dates
This structure not only improves your cash flow but also makes managing your insurance expenses much easier and more predictable.
And here’s the best part — if your business has seasonal ups and downs or if you land a large job, you’re not tied to rigid payment structures. The pay-as-you-go model gives you the flexibility to adjust your payments as your business moves.
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We Can Also Help You with All Kinds of Construction Insurance Loans
In addition to pay-as-you-go financing for liability and workers’ comp policies, BGES Group offers assistance with construction insurance loans. These are flexible, quick-approval financing options that cover a range of insurance-related expenses, including:
• Premium financing for new policies
• Renewal premium loans
• Audit premium loans (if you get hit with an unexpected balance at audit time)
• Coverage expansion costs (when a big project requires increased limits)
• Builders risk policy loans for ground-up construction projects
Whatever your insurance financing need, we can help you secure a loan tailored to your business and payment preferences. It’s another way we work to keep contractors on track, fully covered, and financially flexible.
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Workers’ Compensation Coverage Financing Too!
We don’t stop at General Liability.
BGES Group also offers workers’ compensation coverage for New York contractors, and yes — we can finance those policies too.
Many contractors find workers’ comp premiums especially difficult to manage because of rising rates and increased claims activity in the construction industry. By financing your workers’ comp policy on a pay-as-you-go basis, you only pay for what you need, when you need it.
We can work off actual payrolls, which reduces your chances of a big audit bill at year’s end and allows your premiums to fluctuate with your business volume.
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Why Contractors Trust BGES Group
BGES Group isn’t just another insurance agency — we’re specialists in construction insurance. We understand the unique needs, challenges, and exposures of contractors working in New York’s fast-paced, high-risk environment.
For over 45 years, we’ve been helping contractors secure the coverage they need at rates they can afford. We have relationships with top-tier insurance carriers, including those in the E&S market, and now, with our pay-as-you-go financing solution and construction insurance loans, we’re offering contractors even more control over their insurance expenses.
We help with:
• Commercial General Liability
• Workers’ Compensation
• Umbrella/Excess Liability
• Contractor’s Equipment
• Builders Risk
• Professional Liability for Design-Build Contractors
• Commercial Auto
• Construction Insurance Loans & Premium Financing
And now, we’re making it easier for contractors to stay protected without tying up valuable cash flow.
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Contact BGES Group Today
If you’re a New York contractor currently insured with an excess and surplus lines carrier — or if you’re looking for more affordable and flexible insurance options — we’d love to hear from you.
Let us show you how much easier it can be to manage your insurance payments while keeping your business protected.
Contact Gary Wallach at BGES Group:
Phone: 914-806-5853 – Gary Wallach
Email: bgesgroup@gmail.com
Website: http://www.bgesgroup.com
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Don’t let large insurance premiums disrupt your business. Take advantage of our pay-as-you-go financing solutions and construction insurance loan options today and keep your cash flow working for you.
Your projects won’t wait — and neither should you. Call us now!